Osborn, Maine Property Taxes
The median property tax rate in Osborn, ME is 0.37%, significantly lower than both the national median of 0.99% and the Maine state median of 1.57%. With the median home value in Osborn, the typical annual property tax bill is $317, well below the national median of $2,690. Property taxes in Osborn are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Osborn's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Osborn or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Osborn, Maine Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,140
Ownwell’s Osborn Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Osborn accurately with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osborn to provide an estimated property tax bill. This insightful tool aids in understanding potential tax liabilities. For those interested in more granular trends, scroll down for localized neighborhood information. Your property’s assessed value is the value assigned by Hancock County for property tax calculations, accounting for any applicable exemptions.
Property Tax Rates Across Osborn, Maine
Property taxes in Osborn, Maine, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osborn is 1.09%, significantly higher than both the Maine state median of 1.09% and the U.S. national median of 0.99%. Local government entities within Osborn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osborn estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Osborn's effective property tax rate to other counties in Maine and the national median. For comparison, the 04605 zip code has the highest median property tax rate of 1.09%, while the 04605 zip code has the lowest median tax rate of 1.09%. Understanding how these cities compare with Osborn provides valuable insights into the varying tax landscape across Hancock, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osborn Tax Rate
0.37%
Average Hancock County Tax Rate
1.23%
Average Maine Tax Rate
1.57%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osborn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04605 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Osborn, Maine
In Osborn, Maine, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Hancock County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Osborn, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Osborn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $317 in the 04605 zip code, while the lowest median tax bill is also $317 in the same zip code.
Average Osborn Assessed Value
$85,600
Average Hancock County Assessed Value
$205,850
Average Maine Assessed Value
$204,200
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osborn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04605 | $30,150 | $57,925 | $85,600 | $114,100 | $141,570 |
Source: Ownwell
Property Tax Bills Across Osborn, Maine
In Osborn, located in Hancock County, ME, property tax bills are calculated based on the assessed value of a property and the local tax rate. The median home price in Osborn is $85,600. The property tax rate in this area is determined by local government needs and budget requirements. Homeowners in Osborn can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $214, while the 75th percentile tax bill is approximately $422. At the higher end, the 90th percentile tax bill reaches up to $524. These tax bills are influenced by factors such as property size, location, and any applicable exemptions. For homeowners, understanding these elements is crucial as they directly impact annual tax obligations. Compared to the national median property tax rate of 0.99%, Osborn's rates can provide a benchmark for assessing local tax burdens. This variability in tax bills underscores the importance of accurate property assessments and staying informed about local taxation policies.
Average Osborn Tax Bill
$317
Average Hancock County Tax Bill
$2,609
Average Maine Tax Bill
$3,200
Average United States Tax Bill
$2,690
Property Tax Bills Across Osborn, Maine
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04605 | $112 | $214 | $317 | $422 | $524 |
Source: Ownwell